UwidoNews

Sierra Atlantic Inc., an information technology services provider recognized for outsourcing Oracle and product engineering solutions, announced that the company has acquired Baytree Associates, a Charlotte, North Carolina-based full-service consulting firm and Oracle solutions provider. Baytree has more than 100 deployments in the United States in the healthcare and financial services sectors.

Tata Consultancy Services (BSE: TCS.BO, NSE: TCS.NS), the leading IT services, business solutions and outsourcing firm reported its consolidated financial results according to US GAAP for the quarter and financial year ended March 31, 2009.

Cognizant Technology Solutions Corp. has beaten India-based competitors such as Tata Consultancy Services Ltd (TCS) and Infosys Technologies Ltd in terms of incremental revenues for the first time ever in the 12-month period from April 2008 till March.The firm reported revenues of $2.9 billion (Rs 14,413 crore today) for FY09, $600 million more than the revenues in FY08. Adjusted for two small acquisitions, the incremental revenues stand at $558 million.

The Banking, Financial Services and Insurance (BFSI) IT Services market in India is expected to grow from $1.6 billion in 2009 to $2.7 billion in 2013, growing at a CAGR of 14.2 percent, according to Springboard Research report The Indian IT Services Market for the Banking, Financial Services and Insurance Vertical. The report also indicated that the BFSI market is intensely competitive and fragmented between a large number of services providers.

The $47-billion Indian software export industry on Tuesday sought to put up a brave face on President Barack Obama's proposal to disallow tax deduction for company's outsourcing their business, saying the move will hit the US companies with "marginal" impact on India.

Wipro, the leading Indian outsourcing firm that has reappointed Mr Azim Premji as its Chairman again has entered in Cloud Computing services.

Satyam Computer Services, a leading Indian outsourcing company that serves more than a third of the Fortune 500 companies, significantly inflated its earnings and assets for years, the chairman and co-founder said Wednesday, roiling Indian stock markets and throwing the industry into turmoil.
http://www.nytimes.com/2009/01/08/business/worldbusiness/08satyam.html?h...

Baker Hughes Incorporated (NYSE: BHI) and BJ Services Company (NYSE: BJS) today announced that their Boards of Directors have approved a definitive merger agreement, which represents a transaction value of $5.5 billion for BJ Services based on closing stock prices on August 28, 2009.

Adlabs Films, a cinema and entertainment services company in the Reliance Anil Dhirubhai Ambani Group, Thursday announced its entry intothe outsourcing industry for the media space with plans to employ 1,200 people within a year.The new venture will primarily focus on two segments, digital restoration and content processing, as per the norms of Motion Pictures Association of America, and proposes to work out of 90,000 sq ft of space here. Some 300 employees are already on its rolls.